Chidambaram’s Interim Budget 2014 highlights - Part 1
Union Finance Minister P Chidambaram presented the interim budget for the fiscal year 2014-15 on Monday in Lok Sabha. While presenting the budget Chidambaram said that the fiscal deficit for the current financial year will be contained at 4.6% of GDP well below the red line of 4.8 %. The fiscal deficit, which is the gap between expenditure and revenue, was 4.9% of GDP in the previous financial year. He said that the government's objectives included fiscal consolidation, reviving the growth cycle and enhancing manufacturing.